This is not about forecasting skills. It is about managing the economy. Here's where we expect the government to be competent. It failed over a sufficient period of time to say that a change is needed.
The unemployment "resilience" is a complacent argument trying to put the current situation in a bright light. What is the purpose of a job if it does not deliver prosperity? Should we be happy we have a job, should we get used to declining real incomes?
I would argue that healthy employment and good job quality should boost the economy. If citizens pay more for education, health, pensions, housing or transport, and are forced to roll over debts at ever increasing interest rates, yet still have a job, is that something to be cheerful about?
http://www.ft.com/cms/s/0/f09a3e62-0d65-11e2-97a1-00144feabdc0.html#axzz28KDi2GyZ
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